Metals Exploration plc has agreed a five-year US$27 million financing package for its fleet of mining equipment for La India gold project in Nicaragua.
The company has drawn down an initial US$20.2m of the facility secured from the Banco de America Central S.A. and expects to use the balance of $6.8m as more equipment arrives in Nicaragua.
Metals has so far paid $30.5m for the fleet, with a final $700,000 due next month.
The fleet comprises 10 Caterpillar Inc. (CAT) 777 haul trucks and two CAT 6020 excavators, which are already on site and operational. A further five haul trucks, a third excavator, two wheel loaders, a telehandler and a second bulldozer are in transit or in manufacture.
The company said it was looking at alternative solutions to import deliveries after some were delayed because of disruption to international shipping relating to the conflict in Iran.
Metals has stockpiled 244,000 tonnes of ore on the run-of-mine (ROM) pad ahead of commissioning.
Construction continues at La India, with the structural, mechanical, piping and electrical installation at the processing plant reaching the halfway mark.
The ball mill is installed in the finished grinding building and the SAG (semi-autogenous grinding) mill is due to be lifted into its final position.
The carbon-in-leach tank stands at 88% with 53 of 60 rings, while leach tanks and detox tanks are 80% and 70% respectively, and the tailings storage facility has reached 60% completion.
Pre-stripping of the open pit (71%), water treatment plant (100%) and industrial buildings (88%) are progressing well, while the explosives magazine is awaiting an operating permit.
As at 15 August 2026, the company recorded around two million cumulative work hours without any lost time injuries.
Metals said that first gold at La India remained on schedule for December 2026.